Baker Hughes secures contract with Petrobras for innovative completion technologies to enhance deepwater operations and optimize production.
Quiver AI Summary
Baker Hughes has announced a multi-year contract with Petrobras to provide integrated completions systems aimed at enhancing remote operations in deepwater oil fields. This collaboration, following an open tender, will utilize Baker Hughes' advanced completions technology tailored for Petrobras’ offshore developments, focusing on optimizing production and ensuring reliability in high-pressure conditions. The agreement includes innovations such as the new SureCONTROL Premium interval control valve, which enhances real-time remote control of well conditions across multiple zones. Additionally, Petrobras will incorporate several other Baker Hughes technologies for monitoring and control. Baker Hughes aims to strengthen Brazil's energy supply chain through this partnership, with delivery of the technologies commencing in late 2025.
Potential Positives
- Major multi-year contract secured with Petrobras, enhancing Baker Hughes' presence in Brazil's offshore oil and gas market.
- Advanced completions technology tailored for deepwater operations, improving reliability and efficiency in high-pressure environments.
- Implementation of remote operations capabilities and multi-zone control, which can lead to reduced operational costs and minimized risks associated with water and gas breakthroughs.
- Baker Hughes' commitment to localization supports the Brazilian economy and strengthens its energy supply chain.
Potential Negatives
- Dependence on a single client, Petrobras, for significant revenue through a multi-year contract may create financial risks if Petrobras faces operational or financial challenges.
- The lengthy timeline for delivery starting in late 2025 could limit Baker Hughes' ability to capitalize on immediate market opportunities.
FAQ
What is the purpose of the new contract between Baker Hughes and Petrobras?
The contract aims to optimize production in deepwater fields using innovative completions technology.
How will Baker Hughes' technology benefit Petrobras' offshore operations?
The technology enhances remote operations and multizone control, improving response to well conditions and reducing intervention risks.
What specific technologies will Petrobras be using from Baker Hughes?
Technologies include SureCONTROL ICVs, downhole gauges, monitoring systems, and various safety valves and control systems.
When is the delivery of Baker Hughes' technologies expected to start?
Delivery is scheduled to begin in late 2025.
How has Baker Hughes contributed to Brazil's offshore energy sector?
Baker Hughes has supported Brazil's offshore oil and gas development for decades and focuses on local economic contributions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
New solutions will support remote operations in deepwater fields
Technology allows real-time response to evolving well conditions across multiple zones
HOUSTON and LONDON, March 20, 2025 (GLOBE NEWSWIRE) -- Baker Hughes (NASDAQ: BKR), an energy technology company, announced Thursday a major, multi-year fully integrated completions systems contract with Petrobras. The award followed an open tender and will leverage Baker Hughes’ innovative completions technology portfolio and extensive experience in Brazil to optimize production across multiple deepwater fields.
A range of technologies from Baker Hughes has been specifically tailored to meet the needs of Petrobras’ offshore developments. The intelligent completions technologies, combined with conventional upper and lower completions solutions, will provide remote operations capabilities and multizone control, limiting water and gas breakthroughs and reducing the risk of any costly interventions.
“Deepwater, high pressure wells require an unmatched level of reliability, and our completion technologies have proven themselves in these harsh environments,” said Amerino Gatti, executive vice president, Oilfield Services & Equipment at Baker Hughes. “Through continual innovation, improvement and testing, and in close collaboration with Petrobras, the Baker Hughes team has pioneered new ways to help develop Brazil’s natural resources safely and efficiently for decades to come.”
Through this agreement, Petrobras will utilize Baker Hughes’ new SureCONTROL Premium interval control valve (ICV), which provides enhanced reliability in the high flowrates of Petrobras’ offshore fields. This technology was developed to meet Petrobras’ industry-leading standards and allows operators to respond remotely to evolving well conditions across multiple zones in real time.
Petrobras will deploy a number of additional Baker Hughes completions technologies, including
SureSENS
QPT ELITE downhole gauges, SureSENS B-Annulus monitoring system, SureTREAT chemical injection system, Sur-Set flow control system, Orbit Premium barrier valves, a
gas lift system
,
REACH
subsurface safety valves,
DeepShield
subsurface safety valves,
Premier packers
, screens and gravel pack system.
Baker Hughes has played a key role in the development of Brazil’s offshore oil and gas fields for decades, and the company’s localization strategy contributes to the nation’s economy while strengthening its energy supply chain.
Delivery will begin in late 2025.
About Baker Hughes
Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet. Visit us at
bakerhughes.com.
For more information, please contact:
Media Relations
Brian Reynolds
+1 346-315-6663
brian.reynolds@bakerhughes.com
Investor Relations
Chase Mulvehill
+1-346-297-2561
investor.relations@bakerhughes.com
This article was originally published on Quiver News, read the full story.
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